Marine Biotechnology is the study of how marine organisms and the actions of the oceans be utilized to benefit mankind with services and products. It is an emerging field that involves studies on bioremediation, molecular genetics, genomics, material technology, bioinformatics and many more fields. This relatively new but emerging field is helping mankind with many new solutions and products to Industries, agriculture and hence playing an important role in development of technologies and nations at large. The rich marine diversity is a source of unique biological and chemical compounds that are being used in industries for pharmaceutical products, nutritional supplements, cosmetics, molecular probes, chemicals, enzymes and agrichemicals. Each of these classes of marine bio-products has a huge market value. A large number of unique chemical compounds have been found in relatively small number of ocean's biological and chemical diversity and a large part is still unexplored. With the advancement of biotechnology the vast diversity of ocean is being able to be analyzed and used in the appropriate field.